Dodd Frank Section 165 Section (d) and (e) are applicable to Securities Lending arrangements for US providers and will have certain implications and impacts on the industry. RMA has published a comment letter on issues concerning application of the proposed rulemaking’s single-counterparty credit limits to Agency Securities Lending Programs in the US and related transactions. … Read more
CASLA announces new legal sub-committee to support related CASLA initiatives led by Lesley Charkow. The board consists of a diversified mix of legal and business experience from a variety of financial institutions. The Board of CASLA welcomes the members and thanks them for their participation on subcommittee. For a list of all members please click … Read more
Changes include: 1) Repealing the tick test 2) Imposing a pre-borrow requirement under certain circumstances. 3) ‘Short Designation’ requirement: applicable sell orders for short selling purposes will require a ‘short’ designation. 4) ‘Short-Marking Exempt’ designation: intended for qualified neutral trade activity. Related market participants should ensure they are familiar with the IIROC requirements and ensure … Read more
IIROC updates Short Selling Requirements: Please click on CASLA Reference Library for more details.
CASLA agrees to participate in Bank of Canada market consultancy initiatives on a go forward basis.
Canadian market participants met up at the CASLA Conference to discuss the effects of the eurozone crisis, trends in collateral, regulation and improvements in technology. Participants: Chair: Annabelle Palmer, Global Investor/ISF Charles Murray, Vice President, State Street Oberon Knapp, Senior Vice President, business development, eSecLending Nathalie Bockler, Managing Director and Head of Equity finance sales … Read more
ISF Canadian Roundtable Article added to CASLA Reference Library for member review
We are pleased to announce Reeve Serman as the newly elected president of CASLA
CASLA welcomes newly elected Board members.
The tax sub-committee has requested a technical interpretation from the Rulings Directorate of the Canada Revenue Agency (“CRA”) to confirm that Canadian witholding tax does not arise in respect of certain manufactured dividends/substitute payments (“Compensation Payments”) paid by a Canadian borrower to a non-resident lender under a securities lending arrangement.
